Apple (AAPL) Q3 earnings: Live updates

Apple’s earnings call just wrapped up. Thanks for joining CNBC’s live coverage.

Apple CFO Luca Maestri said on the company’s earnings call that investors could expect September quarter sales results to be similar to its June quarter performance, where overall revenue fell over 1% year-over-year.

In Apple’s 2022 fourth quarter, it reported $90.15 billion in sales. If that were to decline 1%, as the company’s finance chief suggested, Apple would report about $89.25 billion in sales in the current quarter.

Refinitiv analysts were projecting fourth-quarter revenue for the company of $90.19 billion. — Kif Leswing

Apple CFO Luca Maestri just provided data points about how the company sees its September quarter. He said that results would show a similar year-over-year revenue decline as the current quarter, which saw sales fall over 1%.

However, he forecast that iPhone sales would do better than their 2% decline in June quarter, and the already strong growth rate of Apple’s Services division would be even higher in the following period.

Sales of iPads and Macs will fall by double-digit percentages, he added.

Apple shares were down about 2% in extended trading.

Here’s what he said:

“We expect our September quarter year-over-year revenue performance to be similar to the June quarter assuming that the macroeconomic outlook doesn’t worsen from what we are projecting today for the current quarter.

Foreign exchange will continue to be a headwind and we expect a negative year-over-year revenue impact of over 2 percentage points.

We expect iPhone and services year-over-year performance to accelerate from the June quarter.

Also, we expect the revenue for both Mac and iPad to decline by double digits year over year due to difficult compares, particularly on the Mac.

For both products, we experience supply disruptions from factory shutdowns in the June quarter a year ago, and…